AMP Capital reports positive returns for June qtr
AMP Capital reports positive returns for June quarter
Head of Investment Strategy for AMP Capital Investors, Dr Leo Krippner, said all AMP Capital’s diversified fund returns for the June quarter were positive despite challenging market conditions producing some very mixed performances from the sectors over the period.
For the quarter to 30 June, AMP Capital’s conservative diversified fund returned 2.1%, its balanced diversified fund returned 1.1%, and its growth diversified fund returned 0.4%.
New Zealand fixed interest was the top performer, with a return of 28%, followed by unhedged global shares at 2.6%. Global property securities and New Zealand shares fared the worst, with returns of -9.6% and -5.0% respectively.
However, positive performances for the June quarter had not been enough to bring all diversified fund returns back into the black for the year.
AMP Capital’s balanced diversified fund returned -1.3% for the year to June 30 and its growth diversified fund returned -5.6% for the year. The conservative diversified fund returned 5.2% for the year.
While the typical ‘extra return’ for ‘extra risk’ had been absent over the past year, Dr Krippner reminded investors that they were still being rewarded in the longer term: average balanced fund returns over the past five years remain in double digits, and are between the conservative and growth diversified fund returns.